Taxable Sales in Nevada jumped 9.6% in March from the same month a year ago. Motor vehicle and parts dealers surged throughout the Silver State in March by 15% YOY, while the largest sector, food service and drinking places, jumped 8% YOY. Nevada's Taxable Sales were up 5.6% in March this FYTD (fiscal year-to-date, July 2010 through March 2011) as compared to the previous FYTD.

Clark County Taxable Sales also jumped 9.6% YOY as accommodations leaped 28.7% and food services and drinking place increased by 9.6% YOY. Clark County is up 3.7% this FYTD compared to the previous FYTD.

Washoe County Taxable Sales increased by 2.1% YOY, as motor vehicle and part dealers and accommodations jumped by 18.2 % and 26.3% respectively. Washoe County is up 1.0% this FYTD compared to the previous FYTD.

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Nevada Gaming Revenue Increases

Nevada's gaming revenue increased 5% to $958 million in March from the same month a year before--the first YOY increase since October 2010. The Las Vegas Strip leaped by almost 13% YOY, pulling Nevada's gaming revenue higher.

Where is the Gaming Revenue Growth?--Macau!

Gaming, regarded as the engine of Nevada's economy, is one of the closest watched indicators in Nevada. Any sizable increase or decrease in revenue could potentially have dramatic and lasting affects on local employment and economic growth. During 2005-2007, Nevada saw monthly gaming revenue lift above $1 billion each month--a great achievement; however, Nevada's gaming revenue has yet to fully recover from the Great Recession and reach the $1 billion a month mark.


In recent years, Macau, China has emerged as a gambling hot spot in the Asia-Pacific region. The Las Vegas Sands Corporation, MGM Resorts International, and Wynn Resorts Limited, among others have diversified their holdings to include properties in Macau. Since January 2009 (when we have records of Macau gaming revenue) Macau has eclipsed Nevada in gaming revenue and growth. The three Nevada entities participating in Macau's market have benefited significantly from their Macau ventures. Macau's monthly gaming revenue is currently 3 times that of Nevada's--with no signs of slowing down.  It appears Macau will continue to dwarf Nevada's gaming industry for sometime to come.  

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